Television legend Dr Phil’s attempt to file for Chapter 11 bankruptcy for his media start-up, Merit Street Media, has been denied by a judge, who has ordered that he liquidate the fledgling company.

Dr Phil’s bankruptcy move came despite the star’s staggering personal wealth of $460 million (AUD $704 million), including his $39 million (AUD $60 million) property portfolio, Realtor reports .

The list of assets include three homes across Texas and California.

The 75-year-old, whose full name is Phillip Calvin McGraw, filed for Chapter 11 for Merit Street in July, a move that would have enabled him to engineer a path forward for the company.

However, a U.S. Bankruptcy Judge Scott Everett has now turned down Dr Phil’s request for Chapter 11 — accusing the longtime TV personality of faili

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